Grieg Seafood nears eight-year-low as environmental issues hamper Q2
** Shares in Grieg Seafood GSFG.OL slump 15% after the Norwegian salmon farmer reported Q2 numbers below estimates, hit by "continued biological challenges"
** Grieg Seafood posts an operational EBIT loss at 35 million Norwegian crowns ($3.33 million), against the IBES estimate of a profit of 249.5 million crowns
** It says the Spiro parasite hit its Finnmark unit, combined with jellyfish issues that also hampered its peer Salmar earlier in the year
** "In Canada, our operations in British Columbia were impacted by events of extraordinary low dissolved oxygen levels, resulting in significant reduced survival rates", the company adds
** The fish farming industry in Norway has been facing environmental issues in 2024, largely due to the effects of climate change
** Grieg Seafood share is at its lowest since September 16, 2016
($1 = 10.5114 Norwegian crowns)
Reporting by Agnieszka Oleńska
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